Austrian listed property company CA Immo posted a 10% rise in rental income which reached EUR 141 mln in the first half of the year, largely as a result of additional rental revenue generated by recently completed developments.
Austrian listed property company CA Immo posted a 10% rise in rental income which reached EUR 141 mln in the first half of the year, largely as a result of additional rental revenue generated by recently completed developments.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 28 % to EUR 113 mln in the first six months of 2012.
The company's portfolio saw a net positive revaluation of EUR 5.4 mln during the period, largely comprising appreciations of EUR 28.6 mln in Germany and devaluations of EUR 23 mln in Eastern Europe linked to the restructuring of project financing on a number of logistics sites.
Funds from operations after taxes (FFO), a measure of a property company's ability to generate cash, rose to EUR 56.1 mln in the first half of 2012 versus EUR 10.2 mln in the same period last year.
CA Immo owns a portfolio valued at some EUR 5.3 bn, and has total net debt of EUR 3.1 bn.
